Real estate and investment management services firm JLL is buying property-technology startup Skyline AI for an undisclosed amount.
Skyline AI鈥檚 platform process data for multifamily properties across the US to help investors maximise their investment and leasing opportunities.
JLL said it will incorporate Skyline AI technology and proprietary data into its products so JLL clients can better 鈥減redict future property values, improve cost savings, identify promising investment opportunities and make critical business decisions, such as when to raise rent, renovate or sell鈥�.
Skyline AI was founded in 2017 by technology entrepreneurs Guy Zipori, Amir Leitersdorf, Iri Amirav and Or Hiltch. The company鈥檚 backers include Sequoia Capital, TLV Partners and Nyca Partners. JLL global venture fund JLL Spark has been an investor in Skyline AI since 2018.
Richard Bloxam, the CEO of global capital markets at JLL, said: 鈥淭he acquisition of Skyline AI is a significant step for JLL as we look to provide the most strategic and creative advice to our clients.
鈥淲hen you combine the intelligence of the best advisors on the ground with a quantitative expert team and AI data analysis, you get insights that are beyond human and create a competitive edge for JLL and our clients.鈥�
鈥淭his acquisition demonstrates the value and synergies of JLL Spark, as we invest in innovative proptech companies and leverage the resources of JLL to accelerate their growth, said Yishai Lerner, co-CEO, JLL Technologies, a business division of JLL dedicated to commercial real estate technology.
鈥淥ur teams consist of knowledgeable real estate experts and world-class technologists who successfully bring new AI offerings like Skyline AI into the fold and provide the best insights to our clients, accelerating JLL鈥檚 leadership in CRE technology.鈥�
鈥淪kyline AI has worked closely with JLL as an investor since 2018. The next natural step is to become part of JLL, a multi-billion-dollar global company that sees the transformative power of the Skyline AI platform,鈥� said Zipori.
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